PEG Africa

PEG is the largest Pay-As-You-Go solar company in West Africa operating in Ghana and Ivory Coast. We use innovative technology to deliver asset-based financing to poor off-grid consumers who lack both access to reliable electricity and formal banking services.

We have 160+ full time staff and have raised money from a both private equity and venture capital funds. In 2015 we were awarded the COP 21 energy access award.

Why are we exciting?

We are exciting because we have figured out how to profitably provide asset financing to customers like Eric and his family (pictured above).  Eric is a cattler herder who lives in the Eastern Region of Ghana.  His household earns approximately $9 per day.  The solar panel on his roof, which you can see in the picture, powers a solar home system that provides 2 lights, radio, phone charging and a torch, and completely replaces Eric existing expenditure (which is up to 30% of his income) on poor quality, polluting energy such as kerosene, candles, and batteries.

Household energy expenditure on fuels such as kerosene account for $4.2 billion annually in West Africa alone, representing 35 million off-grid households, or nearly 200 million people.  PEG’s founding executive team has built companies financing solar to off-grid customers like Eric since 2008. This longstanding experience has proven valuable, as solar home systems are the critical entry point to building a profitable long term financing relationship with off-grid households. 

Investors are recognising this opportunity, and PEG raised $10 million in 2016.